Frederick II authorized a sweeping currency reform in 1750 that deliberately debased Prussian silver coinage — the so-called Ephraimiten policy, executed largely through the Berlin and Breslau mints using Jewish financiers as contractors, most notoriously Veitel Heine Ephraim. The reduced fineness was partly concealed by maintaining familiar denominations while quietly lowering the silver content, allowing Prussia to finance the ongoing costs of the Silesian Wars at the public's expense. Contemporaries noticed. The coins earned street-level mockery in Berlin rhymes about their pale, base appearance.
Frederick II authorized a sweeping currency reform in 1750 that deliberately debased Prussian silver coinage — the so-called Ephraimiten policy, executed largely through the Berlin and Breslau mints using Jewish financiers as contractors, most notoriously Veitel Heine Ephraim. The reduced fineness was partly concealed by maintaining familiar denominations while quietly lowering the silver content, allowing Prussia to finance the ongoing costs of the Silesian Wars at the public's expense. Contemporaries noticed. The coins earned street-level mockery in Berlin rhymes about their pale, base appearance.